Pardoe, Inc., manufactures a single product. The company uses a standard cost system and has established the following standards for one unit of product:

	Standard Quantity of inputs	Standard Price or Rate per input	Standard Cost per unit
Direct materials	1.5 pounds	$3.20 per pound	$4.80
Direct labor	0.7 hours	$5.00 per hour	$3.50

Pardoe's budget for March used estimated production and sales of 2,900 units.

During March, the following activity was recorded by the company:

The company produced 3,000 units during the month.

A total of 5,000 pounds of material were purchased and used. The cost was $18,000.

During March, 2000 direct labor hours were worked at a rate of $5.50 per hour.

The materials price variance for March is:

A. $750 F

B. $2,000 U

C $1,000 U

D. $750 U

E. $2,000 F

Do not copy from Chegg and give complete answer with explanation